Jungle Rumble

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For all the hoopla surrounding prediction markets and expectations that the industry will eat away at sportsbooks’ NFL handle this season, the old guard industry is expected to control nearly 80% of pro football wagers this year.

Eilers & Krejcik Gaming (EKG) estimates that bettors will plunk down $40.5 billion on the NFL this season through regulated channels. Traditional sportsbooks are projected to capture $31.7 billion of that total, compared to a handle analog of $8.4 billion for prediction markets—a 79% to 21% split in favor of legacy operators.

Handle analog is a metric used as a cleaner comparison between sportsbooks and prediction markets because the latter’s volume doesn’t compare evenly with sportsbook handle.

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This report arrived amid the UK government’s 2023 white paper on gambling reform, which introduced a statutory levy for funding research and treatment. 

A cross-party of MPs similarly branded gambling advertisement as a “public health issue” in a recent parliamentary debate. The comment came after the publication of the All-Party Parliamentary Group’s May report.

The report cited concerns that current measures inadequately protected children and young people from the marketing tactics of the gambling industry.

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The DIA worked directly with class 4 gambling operators (commonly known as pokies trusts), and discovered ‘widespread issues’ such as cases where money that should have been available for community grants was instead spent on society expenses, such as the purchase of additional gaming machines.

Vicki Scott, the DIA’s director of gambling, said the investigation had delivered significant results, while stressing that work to improve compliance and ensure communities received their share of gambling proceeds would continue.

“Most operators have worked constructively with us to address historical issues and improve their practices,” Scott said.